Equinox Gold (NYSEAMERICAN:EQX) Shares Up 6.6% - Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report)'s stock price shot up 6.6% during mid-day trading on Wednesday . The company traded as high as $5.66 and last traded at $5.63. 1,432,104 shares traded hands during trading, a decline of 68% from the average session volume of 4,459,104 shares. The stock had previously closed at $5.28.

Equinox Gold Price Performance

The stock has a market capitalization of $2.64 billion, a P/E ratio of 11.84 and a beta of 1.31. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The firm had revenue of $428.40 million during the quarter, compared to analysts' expectations of $437.84 million. Equinox Gold's revenue for the quarter was up 50.5% compared to the same quarter last year. On average, equities analysts expect that Equinox Gold Corp. will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Equinox Gold by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 26,460 shares of the company's stock valued at $138,000 after buying an additional 3,528 shares in the last quarter. TD Asset Management Inc grew its position in shares of Equinox Gold by 93.6% during the second quarter. TD Asset Management Inc now owns 1,865,672 shares of the company's stock worth $9,735,000 after purchasing an additional 902,081 shares in the last quarter. Private Advisor Group LLC raised its stake in Equinox Gold by 2.0% during the 2nd quarter. Private Advisor Group LLC now owns 201,057 shares of the company's stock valued at $1,052,000 after purchasing an additional 3,862 shares during the period. Rathbones Group PLC lifted its holdings in Equinox Gold by 7.8% in the 2nd quarter. Rathbones Group PLC now owns 127,304 shares of the company's stock worth $665,000 after purchasing an additional 9,165 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Equinox Gold by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,805,581 shares of the company's stock worth $40,824,000 after purchasing an additional 597,182 shares during the period. 38.85% of the stock is owned by hedge funds and other institutional investors.

About Equinox Gold

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.